Shares of Sociedad Quimica y Minera de Chile S.A. (SQM) have crossed above the average analyst 12-month target price of $53.00, changing hands for $53.52/share. When a stock reaches the target an analyst has set, the analyst logically has two ways to react: downgrade on valuation, or, re-adjust their target price to a higher level.
The Government has submitted to the Chamber of Deputies its bill that seeks to allow a third withdrawal of pension funds, as an alternative to the initiative promoted by the opposition, which has already been passed into law. According to the Government, its proposal "addresses the urgent needs of families, granting benefits to 3 million contributors who currently have a zero balance in their individual capitalisation accounts and establishing a mechanism to recover the pension savings withdrawn, thus strengthening future pensions".
Sonnedix Power Holdings Ltd has initiated the environmental permitting process for a project to build a 175-MWp solar farm with energy storage in the Chilean region of O’Higgins. The global independent solar power producer would invest $140 million to build the whole set-up, including a substation and a high-voltage transmission line, its application for the environmental review shows.
Enel Green Power Chile and partner IM2 Solar Chile have reached the first milestone in an agreement to install 75 MW of solar plants under Chile's special regime for distributed generation (DG) projects, known as PMGD. The pair has put into operation the 3-MW San Camilo solar photovoltaic (PV) power facility in the Maule region.
Latin American ICT company InterNexa has opened a new data center in Santiago, Chile. The 150 m2 facility is the company’s first in the country and located in the Barrio El Golf area of the capital city. In March InterNexa’s parent company Electricity utility Interconexion Electrica SA (ISA) announced plans to sell its telecommunication and information technology business in order to focus on on its core businesses of power transmission and road concessions. The sale takes advantage of high investor appetite for telecommunications and IT in the region, said ISA CEO Bernardo Vargas.